Intel Delays Opening Of Ohio Factory Until Congress Deliberates the CHIPS Act

Due to the delay of the CHIPS Act – a USD 52 billion funding plan for domestic chip manufacturing – Intel announced that it is postponing the ground-breaking of its Ohio semiconductor factory.  

Construction on the facility is still scheduled to start before the year is through, and production should start by 2025. The corporation previously said that funding from the CHIPS Act will strongly depend on the scope and pace of Intel’s expansion in Ohio. The initial construction cost of the Ohio factory, which would be Intel’s third in the US, will be USD 20 billion. 

One of the largest semiconductor manufacturing facilities in the world, when fully built out, the site’s total investment might reach USD 100 billion over the following ten years. The CHIPS (Creating Helpful Incentives to Produce Semiconductors) Act’s outcome, however, may affect the facility’s final size.

Read More: https://www.zdnet.com/article/intel-puts-ohio-factory-groundbreaking-on-hold-while-congress-sits-on-chips-act/

Check Out The New Enterprisetalk Podcast. For more such updates follow us on Google News Enterprisetalk News.

Previous articleInvestor Consortium to Acquire Zendesk for USD 10.2 Billion 
Next articleFactors to Consider Before Making an Investment in a CDP